Why Amazon Suffered Larger Than Expected Third Quarter Loss

Read original story on: Statista

Amazon reported disappointing quarter earnings on Thursday, missing both revenue and profit estimates. And it seems like the lackluster sales of the Fire Phone is to blame, primarily. Not only did Amazon take a $170 million write-off related to the phone’s weak performance — in addition, Amazon’s prime cloud business is currently locked in a price war with Microsoft and Google. Still, the holiday season is upon us, and as the chart from Statista shows, the E-Commerce giant always bounces back pretty well during the fourth quarter, especially with three pop-up stores opening to assist the holiday shopping this year.